Member Article

Tolent to quit the market

THE ever-dwindling band of North East listed companies looks set to lose another member after construction firm Tolent announced its intentions to quit the market.

The Gateshead business said in a statement that the costs of maintaining its listing on the Aim market were outweighing its benefits.

It said the process of submitting trading updates to the market was proving “commercially disadvantageous”.

The company will now seek the go-ahead for the move at its general meeting next month.

If - as expected - Tolent does de-list, it will join Prudhoe-based BNS Telecoms, property firm Metnor and Northern Recruitment Group among North East businesses which have quit the market in the last 12 months.

Tolent first joined the market 10 years ago and now generates around £100m-a-year in revenue but, like the majority of construction firms, has suffered during the economic downturn.

This was posted in Bdaily's Members' News section by Ruth Mitchell .